What are the current bank balance requirements for renewing a retirement visa in Thailand?

@Troy *****

You don't have to be collecting pension. It's just an international transfer. Can be from investments or savings

@Chris ******

Nope. No way in the world would I ever do that

@Stuart *********

Yeah I've got that. I worked, saved and invested my whole life. I didn't want to be a retiree counting the pennies, but it's all good

@John *******

Seriously? This is for people over 50.

@Jim *******

What do you mean by Seriously? Are you under the impression that everyone over 50 has an income of over 65,000 THB per month? That is equal to £320 a week UK, or $400+ USA. Must be a lot of private pensions to get to that amount.

@John *******

Yeah I guess so. I'm from Australia where superannuation payments are based on final salary. It's just me (and please excuse me for this) but I find it incomprehensible that retirees have less than 65k per month income.

@Jim *******

I’ve been self-employed many years so my final pay retirement pay is approximately zero. All in all I will probably just touch the 65k limit, but that’s before tax. 20% is taken by the gods of the treasury dept.

However, while being self-employed I saved enough money to live off. The 800k method suits me just fine.

@Peter *********

That's good if it works for you. My Australian super fund earns around 8-9% tax free interest, which conservatively is 64k baht per year. I couldn't let that go. I need money to live on, and transferring 85k per month satisfies that requirement, and meets the criteria for the annual visa extension

@Jim *******

- luckily you were born an Ozzie then! It's no where near as comfortable for Brits. Is your pension frozen like it is in the UK? This kind of disgusting Government behaviour has real consequences for people. Luckily for me although I don't make the 65k pm my income is from property. I currently get only £124 pm company pension. I won't get state pension until 67 which I doubt very much I will ever see.

There's a lot of truth in that saying about being taxed to death...the UK is an excellent example of this.

@Tony ********

many Australians receive what is sometimes referred to as the Australian Aged Pension, which can be claimed at 'retirement age'. That's an Australian Government paid pension. It's not frozen like the UK pension that you referred to, rather it, I believe, increases each year (or most) in line with any annual cost of living increase. Then there's Superannuation, which is in many (or most cases for the average person), is funded by compulsory contributions by the Employer, but can also be contributed to, with limits, by the employee. Since it's introduction some decades ago, the more years one has worked and the higher one's income, the higher the Superannuation at retirement (subject to falls in things where the money is invested and events like recessions).

@Colin ********

- pretty much the same system as the UK with the exception of the mean UK government freezing pensions for people living overseas...just another ridiculous rule they made up to screw over the people. There is simply zero justification for freezing state pensions for anyone. As I said lucky to be born an Ozzie especially if you have been living overseas for many years.

@Tony ********

I have a private pension scheme. I don't get welfare payments from the government. My pension is linked to CPI and is not frozen

@Jim *******

- sounds like you made good decisions during your working life. Unfortunately not everyone is as fortunate 🙏🏼

@Jim *******

Depends mate. If your from the UK and only have the state pension, your lucky if you get the equivalent of around 45,500 THB a month.

@John *******

Yeah I've got it. I wonder how people survive on this. I transfer 85k each month to Thailand. I want to live my retirement not exist. But I did spend years working towards this

@Jim *******

- I don't have the 65k per month. Not a million miles away from it but rules are rules.

My intention was to renew next year using the combo method which I qualify easily. However I have already been informed by the local Immigration Office that they don't use this method. I am due to write to Bangkok Central Office for a ruling on this. Worst case scenario is that I will have to top up by 400k.

People do spend the money. I spent 520k on a car. Never been below 400k but my thinking now is that I will have to put another 400k in and then 3 months after I shall stop transferring money over and just live off the 400k. During this time my UK savings will grow getting a better interest rate. In the longer term I have an even better plan 555

@Tony ********

Which immigration office that won't use the combination method? Can't understand why. 65k a month doesn't come to 800k a year, so don't know why, say if for instance a person has 400k in a Thai account and over 400k a year transferred into same account on a monthly basis.

@John *******

- Samut Sakhon office. The guy spoke with his superiors and re-afirmed it was their policy. In fact he said if I submitted my renewal on this basis it would be denied but also indicated that it 'may be' referred to Bangkok. This is why I am due to write a them because I need clarity because time is ticking away and I have to be sure because I may have to transfer over the 400k.

This is the problem with central government allowing Immigration Offices to 'interpret' the written rules as they see fit. It's a bloody mess and something they should stop. What is the point of 'rules' if any office can say 'nah...we don't see it that way'. I have no issue with the rules if they are applied evenly and fairly and that's definitely not happening. I am not expecting much luck from Bangkok either I'll be surprised if they even reply!

@Tony ********

unfortunately like you say, they make rules and each immigration office interprets them there own way.

@John *******

- yep it's damn annoying. It's no wonder people can't get their heads around the 'rules' when automany is allowed. I wish they would invite farangs to re-write everything we would have a brilliant easy system in no time at all. This whole 90 day reporting is a joke for a start. Why not have that for just 6 to 9 months and then just once a year? It's a waste of everyone's time and energy. I just did mine yesterday and what a wind up it is. I have had to write detailed notes because their system is like guesswork clear as mud. Even so it's still a waste of time for everyone including them.

@Tony ********

"invite farangs to re-write everything" lol, then things would be re-written to suit foreigners, then the country would head in the same direction countries such as the UK, Australia and USA are going - down the gurgler

@Colin ********

- the farangs massively contribute to the economy and helping Thai families though so why not look after them? Yeah send the drunken ones home but do something right for those more deserving. It's no coincidence so many Thai women look for a Farang because their own government doesn't look after them. Virtually no benefit system and family expected to support (that's not necessarily a bad thing IMHO but you get what I'm saying?).

@Tony ********

when you say "farangs massively contribute..." are you sure? I've got no idea, because I'm not living there (yet, but hopefully in the near future), but have heard it said that foreigners there on retirement and marriage visas don't contribute a great deal. You've got no argument from me though on what you've said. I do think though, that especially for those on marriage visas, should maybe get 5 year visas, if not longer, rather than annual (subject to basic proofs from time to time, of still married and living together)

@Colin ********

- yes I was referring to those married or in serious relationships. But to be fair to others they do spend a lot of money and therefore are helping prop up the local economy. I think without the expats a lot of income generated locally would be lost especially in the typically expat gatherings. A lot are building houses and helping start business etc so I'm sure it's actually a lot of money involved. Most are spending all their monthly income. I don't try to save at 63 what is the point? Yeah your idea of longer visas for marriage would be great. It would be nice to sit down with the Immigration heirachy and find out why they don't make our lives easier. Can but to dream huh 🙄

@David ********

transferred 800,000 baht yesterday onto thai account - £17,200 through wise

@Roy **********

your IO is obviously different to mine then

@Tony ********

but it has to be instant access not a fixed term savings acc

@Nigel *************

not true, I have been using a fixed account at Bangkok Bank for years

@Nigel *************

- yes absolutely

@Stuart ********

- already explained in a subsequent post

@Tullio ******

- OK it was the wording which I misunderstood. Put the way you have yes never below 400k